According to a consensus compiled by the London Stock Exchange Group, Shell oil company adjusted revenue has totaled $7.7 billion in the first quarter of 2024, beating market expectations of $6.5 billion,
Speaking on Thursday, Shell announced that its financial results with higher refining margins and strong oil trading has helped the company's profit exceed expectations.
The oil company which is the largest in Europe adjusted earnings in this period decreased by 19.8% compared to $9.6 billion in the same period last year.
Shell’s CEO, Wael Sawan, said that Shell delivered another quarter of strong operational and financial performance, demonstrating our continued focus on delivering more value with less emissions.
“We continue to deliver on our Capital Markets Day targets, giving us the confidence to commence another $3.5 billion buyback programme for the next three months,” Sawan said
The stock is up about 10% since the start of the year, helped by higher crude prices
Shell Surpasses Forecasts: Q12024 Profits Soar to $7.7 Billion